WASHINGTON Risk Retention Reporter
The Karen Cutts Visionary Award will be given in Ms. Cutts' honor annually to an individual who has made an outstanding contribution to the RRG and purchasing group liability insurance industry, NRRA said.
Sanford "Sandy" Elsyss, NRRA conference committee chairman and president of Uni-Ter Underwriting Management Corporation, said: "Karen was a combination of Marco Polo, Mother Teresa and Walter Cronkite. Marco Polo in that she realized quickly and early on, the moment the act was passed, that there was a business in this for her and it followed her passion to create the Risk Retention Reporter.
"As for Walter Cronkite, she was always about the real facts--what's fair, what's factual--and she never played sides.
"The Mother Teresa side was always in her life, in that she always cared for others. She was passionate about causes, whether they be local, national, family or friends, and had worldwide interests. So we recognize her vision on many different topics with the creation of this award."
Ms. Cutts founded the Risk Retention Reporter in 1987 following the passage of the federal Liability Risk Retention Act of 1986 and was the publication's editor and publisher until her death earlier this year. She reported on regulatory, legislative and market developments in the industry. She also wrote a regular column for National Underwriter for several years.
"She was devoted to the promotion and recognition of risk retention groups as affordable and financially sustainable vehicles for insuring liability risks and was a leader in building the stature of the industry," said Kim Wynkoop, NRRA chair.
RRGs are authorized by Congress to write liability insurance nationally when licensed in a single state. They have grown into a major sector of the insurance industry with 251 companies writing $2.5 billion premium annually, NRRA said.
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